Citi opens ‘negative catalyst watch’ on Illumina into earnings

Citi analyst Patrick Donnelly opened a “90-day negative catalyst watch” on Illumina into the Q2 earnings report. In China, the company is facing competitive pressures from BGI in terms of pricing, the analyst tells investors in a research note. Given that the geopolitical landscape with China continues to trend negatively, the Chinese government is giving BGI room to press down its offering versus non-Chinese competitors including Illumina, says the firm. In addition, Illumina’s competitive landscape has widened with Ultima, Pacific Biosciences and Element, notes Citi.